Thread: Diminshed Value
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Old 10-15-2020, 11:19 PM   #6
geunther
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Join Date: Apr 2005
Location: Cheyenne, WY
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Re: Diminshed Value

I had a diminished value claim a few years ago on a sports car. There was significant damage that I knew would affect resale. The insurance company (other driver's) did not pay the diminished value until I sold the car a couple of years after the crash. However, I essentially put them on notice at the time of the repair that I would be placing such a claim upon selling the car.

When I sold the car, I contacted them and told them I sold it for x thousand less than I could have if not for the crash. They honored that amount and issued me a check at that point.

All of that to say, diminished value claims are not cut and dry so be prepared for a few hoops if you go that route. I agree with others that a good repair will negate any diminished value on a typical 67-72. They really only come into play if say the average buyer will pay less because of past damage.
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